With AI reshaping daily operations of a real estate agent's business by automating tasks — from generating property listings to conducting neighborhood analyses — the agent's focus in day-to-day activities will shift. Serhant says AI won't virtualize relationships, but for the real estate agents who embrace the AI revolution — which he says is a necessary move to make — it will strengthen their relationships. The real estate industry is still in the initial stages of adopting AI and understanding remains low among real estate professionals, but the interest is there. But the survey also finds that real estate professionals have very low understanding of AI compared to other technologies. The FBI reported a big year-over-year increase in wire fraud cybercrime losses in 2023, driven significantly by real estate transactions.

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Persons: Ryan Serhant, Serhant Organizations: CNBC, JLL Technologies, Estate Technology Survey, FBI Locations: Manhattan, New York City